Expert: Chris Ebert - 6/14/2009

Question
  I have a credit card account that i have paid over half off..well i lost my job and then i was unable to pay the other half. The credit card company would not work with me and charged off my account. Now I have received letters from other companies about the balance of the account,..universal fidelity LP is one of them...should i pay universal fidelity or my credit card company?

Answer
Jai,

Your issue is a common one. After a credit card is charged off it can bounce from collection agency to collection agency until you are not sure who to pay.

One way to make sure that you are paying the right collector is to ask them who actually owns the debt right now. And then ask for an affidavit of ownership from that person. It may take a little time to get and you may have to ask for it a few times but most collection agencies can give you one. This ensures that the collection agency you are paying has the right to collect it.

What is most important is this case is how you settle. I have included a debt settlement sheet in this link:
http://henleycreditlaw.com/pdf/DebtSettlementSheet.pdf